COMP <GO>
HLIT vs ONDS // EV/EBITDA & P/E VALUATION
Harmonic Inc. (NASDAQ) VS. Ondas Inc. (NASDAQ) • 15-METRIC TALLY: HLIT 6
— ONDS 4
■ METRIC PARITY
LAST: $10.23 (-5.28%) • MKT CAP: $1.18B
valuation
49.5x
LAST: $6.32 (-8.14%) • MKT CAP: $4.01B
valuation
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (HLIT VS. ONDS)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | HLIT | ONDS | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 48.50% | 39.70% | +8.80 | HLIT | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 3.00% | -14.40% | +17.40 | HLIT | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | 49.5x | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 8.23% | -1.02% | +9.25 | HLIT | /fcf-yield <GO> |
| Operating Margin | 3.90% | -60.00% | +63.90 | HLIT | /operating-margins <GO> |
| Net Profit Margin | 0.30% | -60.00% | +60.30 | HLIT | /net-margins <GO> |
| Revenue Growth (YoY) | -26.20% | 180.00% | -206.20 | ONDS | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 0.20 | 3.63 | -3.43 | ONDS | /balance-sheet <GO> |
| Piotroski F-Score Quality | 7/9 | 5/9 | +2.00 | HLIT | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 50.5 | 52.2 | -1.70 | ONDS | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | 1.22 | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | — | 31.0x | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $1.18B | $4.01B | -$2.83B | ONDS | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | HLIT REV | ONDS REV | HLIT GROSS % | ONDS GROSS % | HLIT FCF | ONDS FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $360.5M | $50.7M | 48.5% | 39.7% | $96.9M | -$40.8M |
| FY 2024 | $488.2M | $7.2M | 49.2% | 4.8% | $52.7M | -$35.1M |
| FY 2023 | $388.5M | $15.7M | — | — | $7.1M | -$34.7M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
HLIT // BETA —
ONDS // BETA 1.22